Posted by sirtheta on April 27, 2018
Credit Cards Rewards

Published on April 27th, 2018 | by sirtheta


Bank of America Increasing Earnings from BankAmeriDeals Via “Coins”

[4/27/18: Updated and reposted as program is now live for everyone.]

In an unusual move, Bank of America is adding another rewards structure on top of BankAmeriDeals to provide an extra incentive to make use of the offers. For some background information on how BankAmeriDeals offers work, as well as similar programs at other banks, head over to this post. Log in and head to BankAmeriDeals under “Special Offers & Deals” to find your deals.

How It Works

Every time you redeem an offer, though, you now earn 1 coin. Once you’ve earned 4 coins, you can exchange it for a cash reward—$5 to start. Because “Coins” are an additional layer on top of BankAmeriDeals, they don’t change anything about how BankAmeriDeals offers work.

Exactly like an RPG, once you gain a level every time you exchange 4 coins for a cash reward. Each time you get to a new level, your cash reward for exchanging 4 coins increases by $1. ($6 at Level 2, $7 at Level 3, and $8 at Level 4.)


Your Coins and Level reset every 2 months. In order for a transaction to qualify, you must spend at least $3. If you use a certain deal more than once (e.g. you spend $5 at Starbucks earning $.50 back and the next day spend another $5 at Starbucks to earn $.50 back) it will only count as one Coin toward your reward.

Concluding Thoughts

Quibbles with the transparent psychological ploy aside, this is a good program. If you only use offers you were going to use anyway, you can come out ahead nicely. Since it resets April 25, 2018, there are 138 days between now and the end of the initial run of the “Coins” program, which should be plenty of time to use 4–8 BankAmeriDeals offers “naturally”. It’s hard to complain about a little extra cashback!

It looks to me like this is a trial run of sorts; noting the way the levels are phrased, it’s clear that the exact details may be changed at a later date—once Bank of America has a chance to evaluate the program and its costs.

Overall, I find it to be an interesting addition to BankAmeriDeals, and we’ll just have to wait and see where it goes in 2018.

Questions? Comments? Sound off below.

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Any idea if you have to do 4 different deals each time or you can repeat the same ones (for example: 5% off Starbucks up to $X amount but do it in 4 separate transactions)?

Almost all of these offers are single-use only.

sirtheta Do purchases really have to be made at a local store? In-app reloads or to-go orders don’t qualify?

The BofA offers on Starbucks always worked for reloads. (Lately the offer text is even “enable auto-reload”, but works for simple reloads too.)

i never seemed to be targeted for any BofA deals, had a low-usage card for a couple years now. any tricks to get targeted? is it based on usage?

Offers seemed to be based on spending patterns, e.g. frequency, volume, vendor type. My observation is that completing one type of CB deal increases the chances of getting that same type of deal in the future.

The most common CB deals I get are for restaurant chains, e.g. McDonald’s, Panera, Wendy’s, Moe’s, etc.

Some of the more lucrative CB deals are subscription-based, e.g. Loot Crate, Hulu Plus, AT&T, Birchbox, Hello Fresh, but the ones I take advantage of the most are for food.

yep, the more you use it, the better deal you will have. It takes the system at least few months to track your spending behavior and start to modify your targeted deals. Just my observation.

I just logged into my BoA.. but don’t see the coins. Perhaps is it a trial for some users?

It’s been months since I’ve opened my account and have never used my debit card. To this day I’ve never seen any deals populate in my account even though I’ve opted into it, yes I made sure and double checked etc.

You (or your AUs) need to use your BofA cards to get real offers.

I regularly use my Cash Rewards card (with Honors, it’s *the* best for gas and Walmarts coding as grocery), and I constantly get good ones. I continuously have separate 5%-10% offers to all Hilton brands, some SPG brands; I haven’t used my actual travel cards on my last 3 hotel stays. Random x% ‘up to’ $2 / $3 / $5 at restaurants we already frequent, etc. Right now I also have a no limit 10% off at Walmart Grocery.

My wife has a BBR (was her first card ever, $1000 limit) with only Netflix on autopay, plus a Travel Rewards she uses for her nanobusiness (total spend on it was in the $100s per year..), she only has some retarded offers like $50 for new Comcast subscription.

Thanks for the info! Working on a biz cash rewards card right now. Was going to sock drawer after minimum spend bonus, but may keep it active.

wait. So, you get 2x back on walmart because it codes as groceries? If you do, then that’s awesome. I wonder if it will also code target as groceries.

He might be talking about the Neighborhood Walmart’s which are primarily grocery. My experience is that they code as grocery while the supercenters or regular stores do not.

All WM superstores are also coding as grocery around me (SF bay area), actually, but that wasn’t the point. The BofA CR is best card for: (1) gas (2) Walmarts that code as grocery. ( (3) Or at any grocery that does not accept AmEx. )

It’s not best for Walmarts that don’t code as grocery. At those it’s still just 1.75% with max Platinum Honors status..

When I first opened my BoA Travel Rewards card, I got zilch too. Only after a few months of regular use, I started seeing CB deals. I’m guessing BoA and its partners need enough spending history to profile what kind of spender you are before targeting you. Granted, the targeted deals are sometimes seemingly irrelevant to your spending habits: I remember getting deals for 1-800-FLOWERS and FTD for months and months before finally getting one that I could use. (I’ve never ordered flowers in my life.)

Also, deals may be geographically specific to you. All of the deals I’ve gotten for brick-and-mortar businesses have been within a 5-mi. radius of places where I’ve swiped my card. Interestingly, none of the deals I’ve gotten have ever fallen under category spend (i.e. gas and groceries for Cash Rewards card).

Baah. I’ve used 3 offers literally yesterday. No extra free money. Real first world problem.


the struggle is real

If you use the card you will get more offers. Had a sock drawer card and never got any offers. Just finished premier card bonus and I have probably 10 to 15 available.

Yawn .. I have only used a couple of BAC deals over the past couple of years. Most of them were not worth reading.

I use my BoA credit card regularly as one of my daily drivers and have lots of deals available. 29 as of this moment, it does take a few months as someone mentioned before deals start to populate.

But I see zero mention of this new coin program on my login yet, hope they role it out soon to everyone.

Darvin Natividad
Darvin Natividad

urg. i would rather have the cashback than the “coins” that i have save up just to exchange is for $5. why complicate things? if anything, this will make me use the card less.

stupid program. no different than samsung rewards. but people game that and they will game this too, but its not worth it for me personally. im sure some will love it. but i use many other CC so often, i never have the opp to use a bofa CC. but im also not a cash rewards guy so im sure many who loves CB CC will appreciate this game.

I don’t see these under my account.. I don’t see any mention of coins.. Is this rolling out slowly to BoA accounts? I have 2x Starbucks offers that I could probably easily redeem by buying small gift cards. But I need to wait until I see it say something about “coins” in my account? Where do you see it mentions about it?

BofA is planting a seed in the average joe’s mind, gradually ease the public into embracing a “coin” since they know they will soon be competing with more established decentralized ones that threaten their status quo.

Urgh! I would rather have the cashback than collect these “coins” just to exchange them for cash. Why complicate things? If anything, this will make me use the card even less.

Whole idea is to make people use more BankAmeriDeals and therefore use more BoA cards.
I get these offers almost every week but never found any good use of them i.e. too much effort for too little benefit.

I just got a 10% Walmart Grocery offer. Hopefully this stacks with the $10 codes. That could be $30 off regular grocery visit! No coins though.

Wow that would be a solid offer. Do you use your BoA card(s) at Walmart regularly? What kind of spend?

This isn’t new. It’s been done before, and there’s a reason it was discontinued the first time.

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